Terms and Conditions

Introduction

Gumbovile Metaverse is an offshore LLC company registered in New Mexico, USA. It is a virtual reality city with eighteen different businesses and a Casino. Some businesses have age restrictions, and users must be 18 or even 21 to enter. Each business is a non-fungible token (NFT), and this NFT is divided into 100 tiles called Mini NFTs. The Mini NFT allows its owner to own a share of the business that is in the city. In 2030, the leadership of the business will be transferred to an elected board from the members that are investing in the same business. The official crypto coin used in Gumbovile is BO token.

Terms of Use

By using Gumbovile Metaverse, you agree to the following terms and conditions:

You must be at least 18 years old to use Gumbovile Metaverse.
You must not use Gumbovile Metaverse for any illegal or prohibited activities.
You must not violate the intellectual property rights of others.
You must not create or distribute any content that is offensive, harmful, or discriminatory.
You must not interfere with the operation of Gumbovile Metaverse.
Gumbovile Metaverse reserves the right to terminate your account for any reason.

NFT Ownership

The ownership of a Mini NFT gives you the right to own a share of the business that is represented by the NFT. You are entitled to receive a share of the profits of the business, and you have the right to vote on matters related to the business.

The NFT Holder is entitled to a share of the profits generated by the business. Profit distribution shall be determined and distributed according to the business’s financial performance and distribution policies.

The NFT Holder has the right to participate in voting on matters related to the business. This may include decisions on business strategies, major investments, or any other significant corporate actions. Each NFT represents one vote.

Profit distributions shall be made at regular intervals, as determined by the business. The frequency of profit distributions will be clearly communicated to NFT Holders.

Profit distributions may be made in cryptocurrency, fiat currency, or other assets, as decided by the business. The method of distribution will be communicated to NFT Holders in advance.

NFT Holders are responsible for any taxes incurred as a result of profit distributions. The business shall not be held liable for any tax obligations of the NFT Holder.

NFT Holders will be provided with notice of upcoming votes along with relevant information to make informed decisions.

Certain decisions may require a specific percentage of votes to be approved. The threshold for each type of decision will be clearly defined.

NFT Holders may have the option to appoint a proxy to vote on their behalf, subject to the business’s proxy voting policies.

Any changes to these terms and conditions will be communicated to NFT Holders in advance. NFT Holders will have the opportunity to review and accept the updated terms.

NFT Holders who do not agree to the updated terms may have the option to opt-out, subject to the business’s opt-out policies.

NFT Holders may have the option to voluntarily exit their ownership position, subject to any lock-up periods or exit fees determined by the business.

In the event of the business’s dissolution, NFT Holders may be entitled to a proportional share of the remaining assets, subject to any outstanding liabilities.

By owning the Mini NFT, you acknowledge and agree to abide by these terms and conditions. Failure to comply may result in the forfeiture of ownership rights.

This is a general template, and the specifics may vary based on the nature of the business, legal requirements, and other factors. It’s recommended to consult with legal professionals when drafting such terms and conditions to ensure compliance with relevant laws and regulations.

Leadership Transition

In 2030, the leadership of the business will be transferred to an elected board from the members that are investing in the same business. The board will be responsible for managing the business and making decisions on its behalf.

Cryptocurrency

The official cryptocurrency used in Gumbovile Metaverse is BO token. BO tokens can be used to purchase goods and services in the metaverse, and they can also be used to vote on matters related to the metaverse.

Governance

Gumbovile Metaverse is governed by a set of rules and regulations that are designed to ensure the safety and security of its users. These rules and regulations are subject to change from time to time.

Dispute Resolution

Any disputes arising out of the use of Gumbovile Metaverse will be resolved by arbitration in accordance with the rules of the International Chamber of Commerce.

Miscellaneous

These terms and conditions are governed by the laws of the State of New Mexico. If any provision of these terms and conditions is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect.